DALLAS, Jan. 18 /PRNewswire/ -- Harken Energy Corporation (Harken) (AMEX: HEC) of Dallas today announced that the S-4 registration statement/joint proxy statement recently filed with the Securities and Exchange Commission was declared effective Friday, Jan. 15, 1993. The registration statement/joint proxy statement was prepared in connection with the solicitation of proxies by the boards of directors of Harken and Chuska Resources Corporation (Chuska) (Vancouver: CKA) from the stockholders of Harken and Chuska for the special meetings of stockholders of Harken and Chuska to be held on Feb. 15, 1993.
At the Harken special meeting of stockholders, Harken management will present a proposal to stockholders to approve the issuance of up to 14,210,357 shares of Harken common stock to Chuska stockholders in exchange for all 11,055,918 shares of Chuska common stock outstanding. As a result of the transaction, hereinafter referred to as the "merger agreement," Chuska would become a wholly owned subsidiary of Harken. Harken has received notification from parties representing 53 percent of the outstanding voting shares that they will vote to approve the issuance of the Harken shares.
At the Chuska special meeting of stockholders, Chuska management will present a proposal to approve and adopt the merger agreement. Chuska has received notification from parties representing 96 percent of the outstanding voting shares that they will vote to approve and adopt the merger agreement.
Harken Energy Corporation explores for, develops and produces oil and gas reserves domestically and internationally. Harken also provides oilfield services.
A registration statement relating to these securities has been declared effective by the Securities and Exchange Commission. The offering and sale of any of these securities will be made only by means of a prospectus. This discussion shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation, or sale would be unlawful prior to the registration or qualification under the securities laws of any such state.
Copies of the written prospectus may be obtained by contacting Dale Brooks, c/o Harken Energy Corporation, 2505 North Highway 360, Suite 800, Grand Prairie, Texas 75050.
-0- 1/18/93
/CONTACT: Dale Brooks of Harken Energy Corporation, 817-695-4900/
(HEC)

CO: Harken Energy Corporation ST: Texas IN: OIL SU:

SM -- NY013 -- 5756 01/18/93 09:16 EST

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